TMCnet News
PHAZAR CORP Announced Third Quarter Financial ResultsFORT WORTH, Texas --(Business Wire)-- April 14, 2005 -- PHAZAR CORP (Nasdaq:ANTP) announced third quarter financial results today. The Company recorded a net profit of $239,792 (11 cents per share) for the quarter ended February 28, 2005 compared to a net profit of $167,684 (8 cent per share) for the quarter ended February 29, 2004. For the nine month period ended February 28, 2005, PHAZAR CORP recorded a net profit of $1,604,075 (72 cents per share) compared to a net profit of $780,643 (36 cents per share) for the same period in 2004. PHAZAR CORP's consolidated sales from operations for the third quarter of fiscal year 2005 were $2,171,287 compared to sales of $2,455,050 for the third quarter of fiscal year 2004. PHAZAR CORP's consolidated sales from operations for the first nine months of fiscal year 2005 were $9,750,163 compared to sales of $7,224,864 for the first nine months of fiscal year 2004. The Company's backlog of orders totaled approximately $5.0 million on February 28, 2005. The backlog on February 28, 2005 includes the approximate balance of $3.4 million remaining on a production contract awarded to Antenna Products Corporation for the production of 270 Low Band Antenna Matching Unit Assemblies and 346 High Band Antenna Matching Units Assemblies. Deliveries of this equipment are scheduled to begin in June, 2005 and continue monthly through September, 2005. The equipment will be shipped to the High Frequency Active Auroral Research Program (HAARP) ionospheric research site near Gokona, Alaska, the site of the recently completed installation of an array of 132 crossed dipole antennas built and installed by Antenna Products Corporation in 2004. PHAZAR CORP's backlog totaled $4.6 million on February 29, 2004. Information on PHAZAR CORP is available on the Internet web page at www.phazar.com and at www.antennaproducts.com The common stock of PHAZAR CORP is listed on the Nasdaq SmallCap Market under the trading symbol "ANTP". This press release contains forward-looking information within the meaning of Section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished. |
